Termination Payments
Termination Payments
A variety of state laws govern how soon employees are to be
paid after their employment is terminated. The key factor in these laws is
whether an employee leaves a company under his or her own volition or if the
termination was forced by the company. Exhibit 9.5 lists the time periods by state by which
termination pay must be given to those employees who have voluntarily left employment. In all cases, the
intervals listed are for the earlier of the next regularly
scheduled pay date or the number of days listed in the first column. If a state
is not listed in the table, assume that the termination payment is required at
the time of the next regularly scheduled pay date.
Exhibit 9.6 lists the
time periods by state by which termination pay must be given to those employees
who have involuntarily left employment. In all cases, the intervals listed are
for the earlier of the next regularly scheduled pay date or the number of days listed
in the first column. If a state is not listed in the table, assume that the
termination payment is required at the time of the next regularly scheduled pay
date. Also, note that many more states have adopted early-payment laws for
involuntary terminations, indicating a much greater degree of interest in paying
off employees who fall into this category.
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